In the wake of several scandals involving the investor citizenship schemes of Cyprus and Malta, the EU Commission plans legal action on Tuesday against the two countries.
Despite its status as one of the world’s most secretive and low tax jurisdictions, the European Council announced on Tuesday that it has delisted the Cayman Islands from the EU’s list of non-cooperative jurisdictions for tax purposes – informally known as its tax haven blacklist.
The European Commission on Wednesday warned of growing corruption and attacks against the media and the judiciary in areport that assessed the rule of law situation ineach member state.
A recent poll conducted in six EU countries and the U.S. showed that there is a strong consensus emerging from the general public, regardless of political leanings, that governments should not dole out corporate coronavirus aid to any company booking their profits in offshore tax havens.
The EU plans to close the legislative and technical loopholes that allow money laundering to remain rampant in many EU states, Raluca Pruna, the head of the European Commission’s Financial Crime Unit, said in an interview with AML intelligence last week.
A new project that will be led byEuropol and financed by the European Commission will help the EU’s eastern neighbours -- Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine -- fight organized crime.
The European Court of Justice announced on Thursday that Romania and Ireland will have to pay three million euro (US$3.43 million) and two million euro ($2.29 million) respectively for having failed to follow an EU directive intended to prevent illicit financial flows that lead to money laundering and terrorist financing.
The European Commission recommended on Tuesday that member states withhold coronavirus aid from companies linked to countries that have been blacklisted for being non-cooperative tax jurisdictions.
The European Commission has been slow to enforce reforms necessary to complete its stated mission of curbing money laundering and other illicit financial flows that fuel organized crime and corruption, recent reports show.
The EU’s anti-fraud agency has launched an inquiry to combat the sale of black market medical products amid the ongoing spread of the coronavirus pandemic on the continent.
Belgian authorities are investigating the country’s Foreign Minister who is suspected of corruption and money laundering related to several government contracts, local media reported on Sunday.
It will be harder for terrorists in the EU to build home-made bombs and authorities will now be able to check the bank accounts of suspected organized crime figures, the European Commission announced on Friday.
The EU’s threats to withdraw Romania’s voting rights, funding, and to block it from entering the visa-free Schengen area over the country’s addressal of corruption is “wrong” and “dangerous,” Prime Minister Viorica Dăncilă said on Wednesday.
The European Commission announced on Friday that it would open an investigation into the largest Swedish telecom company’s latest potential acquisition over monopoly concerns.
The European Commission announced Monday it had adopted a new Anti-Fraud Strategy to improve the detection, sanctioning and prevention of fraud perpetrated against the EU budget.
The Council of the European Union granted its final approval Tuesday to a proposal to establish a European Criminal Records Information System on Third Country Nationals (ECRIS-TCN), or convicted non-EU citizens, to aid in the exchange of criminal records information, the European Commission (EC) announced in a press release.
The European Commission has moved to include 15 additional countries in its expanded list of non-cooperative tax jurisdictions, which will tighten controls on financial transactions between those nations and the European Union.
All 28 European Union member nations on Thursday unanimously rejected a proposal to blacklist 23 countries suspected of terrorist financing and money laundering, a landmark measure in the ongoing fight against money laundering.
A local council in the Czech Republic has found Prime Minister Andrej Babiš guilty of conflict of interest because he owns media outlets, the Guardian reported Sunday.
European Union (EU) countries need to exchange more information about the lucrative Golden Visa schemes that provide residency or even citizenship to wealthy foreigners including criminals, money launderers and tax evaders, according to a report issued Wednesday.
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